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Chinese automaker destroys substandard vehicles
Shanghai. March 7 (Gasgoo.com) – Chinese automaker Changhe lost 12.84 million yuan ($1.79 million) by destroying hundred of vehicles that are banned from selling in Chinese market, the company announced in a report yesterday.
These vehicles, which failed to meet China's safety and environmental standards, was mandated to be destroyed by China's General Administration of Environmental Protection.
The automaker lost a total of 12.84 million yuan ($1.79 million) by destroying these vehicles: 9.84 million yuan in 2006 and 2.99 million yuan in 2007.
Last year, Changhe Automobile Co sold a total of 107,699 vehicles in Chinese market, down 20.3 percent from one year earlier. The automaker expects to sell 154,000 vehicles and 89,800 engines in 2008, hoping to make profits this year.
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